hectares, with the total area of all interior spaces being approximately 100,000 sq.m. The campus will be home to ITMO's Master's and doctoral programs that are focused on applied research and its commercialization. The university's buildings in central St. Petersburg will remain in use by Bachelor's programs and Master's programs focused on fundamental science. The Techno Valley is described as “a site for objects of scientific, innovative, and production infrastructure established by businesses and startups”. Its total area will equal 16 hectares. In the future, it is planned to become an Innovative Research and Technology Center (IRTC), which will offer tax concessions to businesses. The Business Park will be the site of a National Center for Urban Studies, a Data Processing Center, a business incubator, and various other objects of business and cultural infrastructure. The total area allocated for the Business Park is 4 hectares. By 2024, 3,600 students are expected to study at ITMO Highpark; the campus is said to provide 12,000 jobs and host 5 innovative production facilities and approximately 50 international laboratories. The project's scientific area of focus is in applied research and fields such as intelligent technologies, cyberphysical systems, photonics, quantum technologies, and biochemistry. The resident businesses’ areas of activity will aim to develop the markets of urban studies, safe/smart cities, the exploration of new territories, extreme environments and virtual worlds, and creative industries. ITMO Highpark's cost is estimated to be more than 41 billion rubles; of that amount, 53% is said to be invested from the federal budget, 12% from the city's budget, and 35% provided by private investors. In 2019, ITMO Highpark's architectural concept design, developed by Russian and British architects, was shortlisted for the World Architecture Festival Award, one of the most prestigious prizes in the field of architecture. In May 2020, the Government of St. Petersburg approved the plan for the first stage of construction of ITMO Highpark. The construction was expected to start in late 2020 - early 2021. The first stage, which includes the main academic building, a dormitory, the student club, the science museum, and street infrastructure, was to be completed in 2022. The second stage (which includes research centers, a second dormitory, a sports facility, and a business incubator as part of the Techno Valley) was to be finished by the end of 2023; the third stage (includes the National Center for Urban Studies, the Data Processing Center,